Chief tries to put positive spin on future of institution

Following the release of permanent tsb’s results yesterday, chief executive Jeremy Masding tried to put a positive spin on what the future holds for the state-owned institution.

He was ploughing a fallow patch.

The bank is heavily exposed to the buy-to-let mortgage market, which has proved to be particularly vulnerable during this downturn. Moreover, over half of PTSB’s residential mortgage book is in the form of loss-making tracker mortgages.